Sleep Number (NASDAQ:SNBR) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Sleep Number (NASDAQ:SNBR) from a buy rating to a hold rating in a report issued on Monday.

Separately, Piper Sandler cut their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Sleep Number Stock Down 1.9 %

Shares of NASDAQ SNBR opened at $13.82 on Monday. The stock’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $13.66. Sleep Number has a 52-week low of $8.13 and a 52-week high of $20.75. The stock has a market capitalization of $309.17 million, a P/E ratio of -7.64 and a beta of 2.08.

Insider Transactions at Sleep Number

In related news, major shareholder Stadium Capital Management Llc purchased 36,097 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $13.09 per share, for a total transaction of $472,509.73. Following the transaction, the insider now owns 2,054,802 shares of the company’s stock, valued at $26,897,358.18. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 142,833 shares of company stock worth $1,976,578. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Sleep Number

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Sleep Number during the 2nd quarter worth approximately $43,000. GAMMA Investing LLC grew its holdings in Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after buying an additional 784 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Sleep Number in the 1st quarter worth approximately $149,000. SG Americas Securities LLC bought a new position in Sleep Number in the 3rd quarter worth approximately $210,000. Finally, XTX Topco Ltd bought a new position in Sleep Number in the 2nd quarter worth approximately $128,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.